I've got a Dell B1160w Mono Laser but I think this issue might be happening with other models as well.
Printing from Internet Explorer you get a script error:
Error: Unspecified error.
I took some doing but I finally got to talk to a Dell Tech Support Rep that could answer the problem. Here is what fixed it for me:
When installing ("Add a printer") and selecting "Add a network, wireless or Bluetooth printer, make sure not to select the printer that shows the address in the http://xxx.xxx.xxx.xxx:xxxx/wsd form. Instead, make sure to select the one that comes up with the plain xxx.xxx.xxx.xxx form.
Select the Dell printer driver that matches the printer with "XPS" at the end (in my case it was "Dell B1160w Mono Laser Printer XPS")
Once installed, right click on the newly installed printer to open printer properties.
Select the ports tab
Make sure the port is the same as the plain IP address specified in #1 above, click on the line and then click on "Configure Port"